Iran Azerbaijan Seal Energy Deal

LONDON (IranMania)–Iranian President Mahmoud Ahmadinejad–in a one-day visit to Nakhichevan on Tuesday–attended the inaugural ceremony for a pipeline that is to deliver Azeri natural gas to Iran in return for Iranian natural gas supplied to Nakhichevan. Azeri President Ilham Aliyev also attended.

The natural gas swap contract between Iran and Azerbaijan was signed by former Iranian president Mohammad Khatami and Azeri president Ilham Aliyev in August 2004.

According to the 25 year contract–Azerbaijan will deliver 80.5 million cubic meters of natural gas to Iran within a year of the date the pipeline is commissioned and Iran will deliver 85 percent of that amount to the autonomous Republic of Nakhichevan.

Speaking at the opening–Ahmadinejad reiterated the need to expand political–economic–and cultural ties between the two states and said that the event reaffirms the commitment by both countries to further strengthen ties.

Aliyev said he values Iran’s close collaboration in implementing the gas transfer project and hoped for the broadening of bilateral relations in various sectors.

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